India set to become global semiconductor manufacturing destination: Industry

The Union Cabinet’s nod to three upcoming semiconductor manufacturing units is a step towards self-sufficiency and makes the country’s dream of becoming a global chip making destination achievable, according to industry players. The Union Cabinet on Thursday approved setting up three semiconductor-making units, entailing an investment of Rs 1.26 lakh crore, as part of an attempt to cut India’s dependence on imports to meet the requirements of chips.

According to S P Kochhar, Director General, COAI (Cellular Operators Association of India), the approval for these units which has come under India’s Semiconductor Mission is a positive and commendable development.